Massachusetts Financial Services Co. MA Purchases Shares of 91,663 Deckers Outdoor Corporation (NYSE:DECK)

Massachusetts Financial Services Co. MA bought a new stake in Deckers Outdoor Corporation (NYSE:DECK - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor bought 91,663 shares of the textile maker's stock, valued at approximately $10,249,000. Massachusetts Financial Services Co. MA owned 0.06% of Deckers Outdoor as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Mpwm Advisory Solutions LLC bought a new stake in Deckers Outdoor in the fourth quarter valued at $26,000. Headlands Technologies LLC bought a new stake in shares of Deckers Outdoor during the fourth quarter worth about $29,000. Vega Investment Solutions bought a new stake in shares of Deckers Outdoor during the fourth quarter worth about $29,000. Whittier Trust Co. of Nevada Inc. increased its position in shares of Deckers Outdoor by 250.0% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 168 shares of the textile maker's stock worth $34,000 after acquiring an additional 120 shares in the last quarter. Finally, Fourth Dimension Wealth LLC bought a new stake in shares of Deckers Outdoor during the fourth quarter worth about $41,000. 97.79% of the stock is owned by institutional investors.

Insider Buying and Selling at Deckers Outdoor

In related news, Director Cindy L. Davis purchased 1,825 shares of the business's stock in a transaction dated Friday, June 6th. The shares were purchased at an average cost of $109.76 per share, for a total transaction of $200,312.00. Following the completion of the acquisition, the director owned 13,340 shares in the company, valued at approximately $1,464,198.40. This trade represents a 15.85% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Angela Ogbechie sold 6,244 shares of the company's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $103.89, for a total transaction of $648,689.16. Following the completion of the transaction, the insider owned 19,980 shares in the company, valued at approximately $2,075,722.20. The trade was a 23.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.40% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Piper Sandler lowered their price target on shares of Deckers Outdoor from $210.00 to $100.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. Bank of America decreased their price target on shares of Deckers Outdoor from $128.00 to $114.00 and set a "neutral" rating on the stock in a report on Thursday, July 17th. Stifel Nicolaus cut their price objective on shares of Deckers Outdoor from $185.00 to $127.00 and set a "hold" rating for the company in a research note on Thursday, April 10th. Needham & Company LLC reaffirmed a "buy" rating and issued a $120.00 price objective on shares of Deckers Outdoor in a research note on Wednesday. Finally, Wells Fargo & Company dropped their price target on shares of Deckers Outdoor from $100.00 to $90.00 and set an "equal weight" rating for the company in a research report on Monday. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $132.45.

Deckers Outdoor Price Performance

Shares of DECK stock traded up $2.45 during mid-day trading on Wednesday, hitting $108.14. The company had a trading volume of 3,416,304 shares, compared to its average volume of 2,721,011. Deckers Outdoor Corporation has a 52-week low of $93.72 and a 52-week high of $223.98. The stock's 50 day moving average price is $106.87 and its 200-day moving average price is $131.06. The company has a market capitalization of $16.16 billion, a P/E ratio of 17.05, a P/E/G ratio of 6.93 and a beta of 0.99.

Deckers Outdoor (NYSE:DECK - Get Free Report) last announced its quarterly earnings results on Thursday, May 22nd. The textile maker reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.43. Deckers Outdoor had a net margin of 19.49% and a return on equity of 41.17%. The company had revenue of $1.02 billion for the quarter, compared to analysts' expectations of $1.01 billion. During the same quarter in the previous year, the business posted $0.82 earnings per share. Deckers Outdoor's quarterly revenue was up 6.5% on a year-over-year basis. On average, equities research analysts expect that Deckers Outdoor Corporation will post 5.89 earnings per share for the current year.

Deckers Outdoor announced that its board has authorized a share buyback program on Thursday, May 22nd that allows the company to repurchase $2.25 billion in shares. This repurchase authorization allows the textile maker to repurchase up to 11.7% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's board of directors believes its shares are undervalued.

About Deckers Outdoor

Deckers Outdoor Corporation, together with its subsidiaries, designs, markets, and distributes footwear, apparel, and accessories for casual lifestyle use and high-performance activities in the United States and internationally. The company offers premium footwear, apparel, and accessories under the UGG brand name; footwear, apparel, and accessories for ultra-runners and athletes under the HOKA brand name; and sandals, shoes, and boots under the Teva brand name.